Education Danny Vesokie | Affiliated Financial Partners
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Great 👍 video, @Dino Hasapis
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The value of silver may be double the price of gold, folks. I am going to have to agree with Gustan Cho, the new and improved Nostradamas of economics. I will cover in this thread why silver prices is expected to surge to record historic uncharted territories, folks.
Silver Prices Are Forecasted to Skyrocket: You do not have to be a fortune teller to see that silver prices is expected to skyrocket. This is no B.S. It is common sense. The global elites are scared shitless. China is stacking silver like never before and they are doing this quietly.
China’s Aggressive Stacking of Silver Quietly:
Overview of Silver and Why Silver is a screaming buy now:
Silver prices have been forecasted to rise significantly due to several key factors, with China’s aggressive accumulation of silver playing a major role. Here’s an in-depth look at why silver is expected to see substantial price increases:
Factors Contributing to the Forecasted Increase in Silver Prices
China’s Aggressive Accumulation
Strategic Reserves: China has been increasing its silver reserves, seeing it as a strategic asset for industrial use and a financial hedge.
Industrial Demand: China is a major consumer of silver for its extensive manufacturing sector, particularly in electronics, solar panels, and electric vehicles.
Monetary Policy: By stacking silver, China may be looking to diversify its reserves and hedge against global economic uncertainties and potential inflation.
Rising Industrial Demand for Silver
Electronics: Silver is a crucial component in electronics due to its superior conductivity.
Renewable Energy: The push towards renewable energy, particularly solar panels, which use a significant amount of silver, is driving up demand.
Electric Vehicles (EVs): The automotive industry’s shift towards electric vehicles, which utilize silver in various components, contributes to the increased demand.
Monetary and Investment Demand
Safe-Haven Asset: In times of economic uncertainty, investors flock to precious metals like silver as a haven.
Inflation Hedge: Silver, like gold, is often used as a hedge against inflation, and with rising inflationary pressures, investment in silver is increasing.
Supply Constraints
Mining Production: There have been constraints due to environmental regulations, political issues, and the depletion of easily accessible silver reserves.
Recycling Rates: While recycling contributes to the silver supply, it is insufficient to meet the growing demand, leading to a supply-demand imbalance.
Geopolitical Factors
Trade Policies: Global trade policies and tariffs can affect silver’s supply chains and cost.
Economic Policies: Central bank policies and national economic strategies can influence silver prices.
China’s Role in the Silver MarketStrategic Reserves and Economic Policies
Diversification of Reserves: China’s central bank and large financial institutions are diversifying their reserves, including accumulating silver, to reduce dependence on the US dollar and other foreign currencies.
Industrial Strategy: As China aims to lead in the technology and renewable energy sectors, securing a steady supply of silver is critical to support its industrial strategy.
Forecasts and Market PredictionsIndustry Analyst Perspectives
Goldman Sachs: Some analysts from major financial institutions like Goldman Sachs predict that silver prices could rise significantly due to supply constraints and increasing demand.
World Bank: Reports from international organizations like the World Bank highlight the role of industrial demand in pushing silver prices higher.
By understanding these factors, investors can better grasp why silver prices are forecasted to skyrocket and make informed investment decisions.
https://www.youtube.com/watch?v=G9oPb7EnEW8
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This reply was modified 7 months ago by Danny Vesokie | Affiliated Financial Partners. Reason: Spelling error
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This reply was modified 7 months ago by
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Commission-Income Mortgage Guidelines
Commission-income borrowers face unique challenges when qualifying for a mortgage loan due to the variability and unpredictability of their earnings. However, they can secure mortgage financing with the right documentation and a clear understanding of the guidelines. Gustan Cho Associates are experts on commission-income mortgage guidelines, and here are the key considerations for such borrowers:
Income Calculation
Two-Year Average: To account for fluctuations, lenders typically average commission income over the past two years.
One-Year History: Some lenders may consider a one-year history if the borrower has been in the same line of work and can demonstrate consistent or increasing income.
Documentation Required
Tax Returns: Borrowers must provide the last two years of tax returns, including all schedules.
W-2 Forms: W-2 forms for the last two years are required to verify income.
Pay Stubs: Recent pay stubs to show current earnings.
Profit and Loss Statement: A year-to-date profit and loss statement may be required if self-employed.
Stability of Income
Consistency: Lenders look for consistent or increasing income over the two years.
Decreases in Income: Any decreases in income may require a detailed explanation.
Length of Employment
Minimum Employment: Generally, a minimum of two years in the same field is preferred.
Less Than Two Years: Borrowers with less than two years of commission income may be considered if there are strong compensating factors, such as excellent credit or substantial savings.
Debt-to-Income Ratio (DTI)
Calculation: Commission income is factored into the DTI ratio, which lenders typically prefer to be 43% or lower, although some programs allow higher ratios.
Down Payment and Reserves
Cash Reserves: Commission-based borrowers may need to show larger cash reserves to compensate for the variability in income.
Loan Programs
Available Options: Commission-income borrowers can explore conventional, FHA, VA, and USDA loans, depending on their circumstances.
Unreimbursed Business Expenses
Deductions: These expenses are typically subtracted from gross commission income, affecting the income calculation.
Seasonal or Cyclical Income
Additional Documentation: Lenders may require additional documentation or average the income over a longer period to account for seasonality. While commission-income borrowers face additional scrutiny when qualifying for a mortgage, understanding the specific guidelines and providing thorough documentation can significantly improve their chances. Working with experienced mortgage professionals, like those at Gustan Cho Associates, can provide valuable guidance and support throughout the process.
For more detailed information, consider consulting these resources:
gustancho.com
GCA Mortgage | Mortgage Experts With No Overlays
Whether you’ve gone through bankruptcy, divorce or you are a first-time homebuyer, Gustan Cho Associates are experts in difficult loans
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Your plan to create a comprehensive training program for new and dual real estate agents/mortgage loan officers sounds thorough and well-thought-out. Here’s a summary of the key points you’ve outlined:
Platform: GCA FORUMS will host a PowerPoint training program.
Target Audience:
- Brand new loan officers
- Dual real estate agents and mortgage loan officers
Potential: Emphasizing the lucrative nature of the mortgage loan originator career.
Licensing: Acknowledging that passing the NMLS exam is just the beginning.
Practical Experience: Emphasizing the importance of hands-on deal experience.
Apprenticeship Program:
- For newly licensed loan officers with less than two years of full-time experience
- Less than $20 million in production
- The requirement to complete six closed loans under the supervision
Mentorship: Pairing new loan officers with experienced, tenured GCA loan officers.
Independence: The goal is for new loan officers to become independent after completing the program.
Comprehensive Training: Covering the entire process from qualification to closing.
Additional Resources: Linking relevant blog posts for reference. This approach combines theoretical knowledge with practical, hands-on experience, which is crucial in the mortgage industry. The apprenticeship model can be particularly effective in helping new loan officers navigate real-world scenarios and build confidence.
Some additional elements you might consider including in your training program:
- Regular assessments to track progress
- Case studies of complex loan scenarios
- Training on specific loan products and programs
- Compliance and ethics modules
- Customer service and communication skills development
- Technology and software training relevant to the industry
- Networking and business development strategies
Remember to keep the training program flexible enough to adapt to changes in the mortgage industry, regulations, and market conditions. Regularly updating the content will ensure its ongoing relevance and effectiveness.
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Thank you for providing this detailed DSCR (Debt Service Coverage Ratio) loan scenario. You’ve highlighted several important factors lenders consider when evaluating a DSCR loan application, particularly for a cash-out refinance. Let’s break down the key points:
Loan Details Needed:
- Loan amount
- Loan-to-Value (LTV) ratio
- Credit score
- Property zoning
- Lease term
- Property ownership duration
- Purchase price of the property
Loan Type Considerations:
- Bridge loan vs. long-term financing (25/30 year term)
- Zoning: residential, commercial, or property with a conditional use permit
Rental Income Verification:
- Rental agreement
- Appraisal rental supplement (Form 1007)
- The lower of the two is typically used for DSCR calculation
Special Use Considerations:
- For state-certified daycare, long-term agreement details are crucial
- A conditional use permit may require a rebuild letter from the city/county
DSCR Calculation:
- Net Operating Income / Total Debt Service
Additional Factors:
- Property classification based on use and zoning
- Potential prepayment penalties
- Interest rate determination
Appraisal Requirements:
- Form 1004 appraisal may be needed
- Form 1007 (rental market analysis) is typically included
You’ve correctly pointed out that the presence of a lease doesn’t guarantee its use in DSCR calculations. Lenders often use the lower of the actual lease amount or the market rent determined by the appraiser (Form 1007).
For properties with special use cases (like a daycare) or conditional use permits, additional documentation, such as rebuild letters, may be required to ensure the property’s continued viability as a rental.
This comprehensive approach helps lenders assess the risk and viability of the investment property, ensuring that the rental income will be sufficient to cover the debt payments and associated costs.
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Discover is one of the worst credit card companies. They are notorious in decreasing your credit limit and their customer service sucks. While Discover is generally considered a reputable credit card issuer, some people may have negative perceptions or experiences. Here’s an objective overview of Discover’s reputation and some reasons why some might view it negatively:
Positive aspects:
- There is no annual fee on most cards
- Cashback rewards program
- Good customer service ratings
- U.S.-based customer service
- Free FICO score access
Potential negative aspects:
Limited acceptance: Discover is less widely accepted than Visa or Mastercard, especially internationally.
Lower credit limits: Some users report receiving lower credit limits than other issuers.
Fewer premium card options: Discover only offers a few high-end cards with luxury perks.
Marketing practices: Some people find Discover’s marketing aggressive or annoying.
Credit profile targeting: Discover may be perceived as targeting consumers with lower credit scores.
Limited benefits: Discover cards may offer fewer travel perks or insurance benefits compared to some competitors.
History of telemarketing: Discover faced criticism for aggressive telemarketing tactics.
It’s important to note that credit card experiences can vary greatly depending on individual circumstances. Many users are satisfied with Discover, while others may prefer different issuers. When choosing a credit card, it’s best to compare options based on your needs and financial situation.
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Pleasure to meet you, Taylor. I am Danny Vesokie and I am the owner and operator of Affiliated Financial Partners, Inc. in Sacramento, California. Affiliated Financial Partners is a commercial loan officer training school and commercial lending broker. I work closely with Gustan and Nelson Thompson of Lending Network. Give me a shout whenever you have any question or post your question here at GCA FORUMS. I have know Gustan Cho and the team at Gustan Cho Associates for over 20 years. I will answer the case scenario as best as I can, Taylor.
Commercial Refinance Scenario for a Property in LA
Based on the provided details, here are the specifics:
- Type of Loan: Commercial Refinance
- Location: Los Angeles (LA)
- Property: Westin building currently occupied by a child care center
- Current Loan: $500,000
- Appraised Value: $1.2 million
- Monthly Mortgage Payment: $3,500Income from Child Care Center: $5,400 per month
- Debt Service Coverage Ratio (DSCR): 1.49
Understanding the DSCR and Financial Health
The DSCR is an essential metric for lenders. A DSCR of 1.49 indicates that the property’s net operating income (NOI) is 1.49 times greater than its debt obligations, which is generally considered good and suggests a lower risk for lenders.
Government Programs and Loan Types
Considering the property is occupied by a child care center, certain government-backed loans or programs might be available to support the refinancing:
Small Business Administration (SBA) Loans:
- SBA 7(a) Loan: Good for general refinancing purposes, offering competitive interest rates and long terms.
- SBA 504 Loan: Suitable for refinancing commercial real estate and offering low down payments and fixed interest rates.
- Interest Rates Generally range from 5% to 8%, depending on the lender and specific terms.
USDA Business and Industry (B&I) Loans:
- Purpose: To improve, develop, or finance business, industry, and employment.
- Eligibility: Available in rural areas, but specifics must be checked for urban areas like LA.
- Interest Rates: Typically competitive and often in the 5% to 6% range.
Estimating Interest Rates
Considering the current commercial mortgage rates and the financial health of the property, we can estimate the interest rate range:
- Standard Commercial Loans: Interest rates for commercial loans can range from 3.5% to 7%, depending on the borrower’s creditworthiness, loan term, and lender.
- SBA 504 Loans typically offer between 3.5% and 6% rates.
- SBA 7(a) Loans: Rates can range from 5% to 8%, depending on the lender and loan specifics.
Possible Rates for Your Scenario
Given the provided details, here are the estimated interest rates:
- SBA 504 Loan: Around 4.5% to 5.5%
- SBA 7(a) Loan: Around 5% to 7%
- Standard Commercial Refinance Loan: Around 4% to 6%
Next Steps
Contact Lenders: Contact multiple lenders to get specific quotes and compare the rates and terms offered. Gustan Cho can definitely help you because he used to be an owner of close to a billion dollars worth of properties.
Prepare Documentation: Ensure all necessary financial documentation, including income statements, the current mortgage details, and property appraisal, is ready.
Consult a Mortgage Broker: A broker can provide personalized advice and help find the best rates for your specific scenario.
Resources: Lending Network: https://www.lendingnetwork.org/
By exploring these options and contacting lenders, you can secure a competitive interest rate for refinancing commercial property in Los Angeles.
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This reply was modified 7 months ago by Danny Vesokie | Affiliated Financial Partners.
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This reply was modified 7 months ago by Danny Vesokie | Affiliated Financial Partners.
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I understand you have strong feelings about Chicago and its political landscape. While Chicago has a rich history and diverse culture, it’s important to respectfully discuss political views and urban challenges. Every city faces complex issues that rarely have simple solutions. Like many major cities, Chicago grapples with various urban challenges, including crime, economic inequality, and political disagreements. These issues often have deep historical roots and multiple contributing factors. Rather than using dehumanizing language about any group, focusing on specific policies and their impacts is generally more constructive. If you have concerns about particular issues in Chicago, consider engaging in local civic processes, contacting elected officials, or supporting community organizations working on those problems. Chicago’s diversity and cultural offerings are indeed significant parts of its identity. The city has positively contributed to architecture, music, food, and more. Focusing on those strengths while addressing challenges through civil discourse and democratic processes is typically the most effective approach for improving any city.
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The Illinois Tollway system has undergone significant changes over the years. Here’s an overview of the current situation with Illinois tollway booths:
Cashless System: As of 2020, the Illinois Tollway system transitioned to all-electronic tolling. Traditional toll booths where drivers could stop and pay cash have been phased out.
I-PASS and E-ZPass: The primary method for paying tolls is through I-PASS or E-ZPass transponders. These electronic devices allow automatic toll payments as vehicles pass through toll points.
Pay By Plate: The system uses license plate recognition for those without I-PASS or E-ZPass. Drivers can pay online within 14 days of their trip without additional fees.
Toll Plazas: While traditional booths are gone, overhead gantries and signage still indicate toll points. These gantries house cameras and sensors for electronic toll collection.
Rates: Toll rates vary depending on the vehicle class and whether the driver uses I-PASS/E-ZPass or the Pay By Plate system. Generally, I-PASS/E-ZPass users pay lower rates.
Grace Period: There’s typically a grace period for paying missed tolls without incurring additional fees.
Violations: Failure to pay tolls can result in fines and fees.
Customer Service Centers: While physical toll booths are gone, customer service centers still exist for account management and assistance.
Mobile App: The Illinois Tollway offers a mobile app for managing accounts, paying tolls, and planning trips.
Future Plans: Tollway continues to invest in modernizing its infrastructure and improving its electronic tolling system. For the most current information on toll rates, payment methods, or any recent changes to the system, it’s best to check the official Illinois Tollway website or contact their customer service directly. The system may have undergone further updates since my last knowledge update.